tag:blogger.com,1999:blog-11702093.post703379384578305109..comments2024-03-28T17:36:33.351+08:00Comments on Tan Kin Lian's Blog: Cash loan - 16% effective rateTan Kin Lianhttp://www.blogger.com/profile/00617069056914635271noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-11702093.post-25218463618415263942010-02-01T22:17:48.667+08:002010-02-01T22:17:48.667+08:00You mustn't forget about the bad debts that th...You mustn't forget about the bad debts that they have to shoulder though :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11702093.post-36375780119871004232010-02-01T21:24:35.373+08:002010-02-01T21:24:35.373+08:00I once read an article in the papers about a licen...I once read an article in the papers about a licensed moneylender. He told the reporter that he earned about $15K per month from giving out a total of $1million in loans. That's a 18% return pa!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11702093.post-13747477098907317472010-02-01T16:43:19.430+08:002010-02-01T16:43:19.430+08:00Best to avoid taking any unsecured loans - they ar...Best to avoid taking any unsecured loans - they are not cheap. Even S$ prime rates exceed 5%.<br /><br />Try to have enough savings for emergency and as much as possible buy when you have saved enough to buy in cash.<br /><br />If you have to buy with loans, at most, try to buy only assets which you can use as collaterals for secured loans (eg: Home loans) because unsecured loans are too expensive. Even then, should buy within (or better still, below) your financial means.Robert Tannoreply@blogger.comtag:blogger.com,1999:blog-11702093.post-53181916085868215062010-02-01T12:42:46.582+08:002010-02-01T12:42:46.582+08:00REX comments as follows,
this seems to be a very s...REX comments as follows,<br />this seems to be a very small loan just only $1,500. could be actually drawn from credit card or overdraft facility for more convenience rather arranging a formal bank loan... The interest... 16% is around the same as what the credit card co. charges 20% i think. It seems to be the norm for short term loans, 16 to 20%. This figure has been around for ages i think, i am not sure what is new?<br /><br />REXAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-11702093.post-52919777535827869312010-02-01T11:53:32.802+08:002010-02-01T11:53:32.802+08:00Banks are operating like Ah Long and it is legal. ...Banks are operating like Ah Long and it is legal. Ah Long not legal becuase they don't pay corporate tax<br />and they use unacceptable means to recover bad debt.Anonymousnoreply@blogger.com